Investment Info:
Single-family residence wholesale investment.
Purchase price: $650,000
Sale price: $685,000
found a single family home that was a 2nd owner with very little upgrade, most upgrade were to electrical, pipes etc but lots of work needed on cosmetics and lay out. Found an investor who was willing to work with me after we had a walkthrough - i even set him up with several agents that live in the area and serve clients regularly he interviewed them and picked one he really liked !
What made you interested in investing in this type of deal?
i want to utilize wholesaling to fund my rental properties
How did you find this deal and how did you negotiate it?
we drove around the neighbor, then i pulled up comps to see if there were any flips near by- sur eenough there was a couple and i worked with partners to find the investors and reached out to them
How did you finance this deal?
it's a wholesale deal so i did not need to finance it
How did you add value to the deal?
by offering services of real estate agents in the area, selling it to contractor below market value to establish working relationship and offered my expertise in finance as a bonus.
What was the outcome?
sold my contract for a profit
Lessons learned? Challenges?
learned that finding leads is incredibly time consuming and that i need to learn a more streamlined solution to this- after tryign several websites and looking into my resources i believe i found a faster way
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
yes absolutely
